Two major mall owners, CBL & Associates Properties Inc. and Pennsylvania Real Estate Investment Trust, filed for bankruptcy protection as sharp declines in retail foot traffic continue to devastate commercial property landlords even as businesses have reopened.
CBL, the larger of the two landlords, operates 107 shopping centers concentrated in the Midwest and Southeast, and counts more than 30 retail tenants that filed for bankruptcy in 2020, including J.C. Penney Co. and GNC Holdings Inc.
PREIT,…
This post first appeared on wsj.com
